Exploring the future of the HR profession: A Q&A with Kevin Silva
Successful HR leaders understand the CEO’s strategic and personal goals and how they can further these goals, says Voya's CHRO.
While it’s beneficial to have HR specialists on staff, every team member must be able to adapt and grow as an organization changes – as tasks on their to-do list may have made sense five years ago, but may not make all that much sense next year.
Related: The workforce ecosystem: Re-imagining employers’ relationship with workers
In our latest chat in this series, BenefitsPRO caught up with Kevin Silva, chief human resources officer of Voya Financial, a financial, retirement, investment and insurance company based in New York City.
Katie Kuehner-Hebert: How has the role of HR professionals changed in recent years?
The role of the HR professional has evolved, and those individuals who are effective have common elements. All of their actions and activities underpin the strategy of the company – both financially and in regards to human capital. Additionally, they are tightly aligned with the board of directors, CEO and each member of the senior leadership team in executing these strategies. It is also important that an HR professional’s activities enhance the culture and the financial profitability of the company. Finally, in a post-COVID environment, an HR professional must ensure that the remote and flexible workforces are fully engaged in supporting the strategy.
KKH: How has this shift impacted the relationship between the C-Suite, HR and employee benefits consultants?
This shift has positioned HR to add greater value and advise the C-Suite. Successful HR leaders provide counsel to the CEO, senior leadership team and board of directors that is unique to advice that the CEO can get from other sources. They also understand the CEO’s strategic and personal goals and how they can further these goals.
HR leaders today need to understand how to identify, qualify, build and continuously develop the strongest senior team possible surrounding the CEO. Additionally, they must understand how to improve the productivity and quality of the entire workforce, while reducing the expense of that workforce and providing appropriate awards for meaningful contributions.
In regards to the relationship with employee benefits, there is an increased focus on benefits that support diversity and inclusion in the workplace. HR and benefits leaders need to work with their employee benefits consultants to understand market competitive benefits in their industries and to develop programs and policies that align to business objectives and support the attraction, engagement and retention of diverse talent at all stages of their professional careers.
KKH: How has technology changed the way you work? How has it changed your role in the company?
First, technology has allowed us to make better and higher quality, data-based decisions.
Second, technology has enabled us to have a distributed workforce that can work in multiple locations, multiples shifts and hours, and in a hybrid office center in a coordinated manner. Technology has provided us with quick answers comparative to what is going on in the market – it has provided us with a terrific amount of information on social and cultural agendas in this country, enabling us to be more responsive to the changing needs of individuals.
Finally, it has given us access to a much more diverse workforce. We’re not limited by brick and mortar or geography, which enables us to tap into more diverse talent.
KKH: Do you see an increasing need for specialization within the field (talent management, compliance, diversity & inclusion, etc.)?
It is an asset to have a special set of talents in the workforce. However, the other side of the coin is that specialization can be limiting if one doesn’t understand how their role and contribution fit with the larger organization and are relevant to its success.
One can do everything they did the year before and become irrelevant to the organization, and that’s where people get lost in their careers because they’re busy, they’re accomplished and they’re task-driven. But what’s on their to-do list may have made sense five years ago, but doesn’t make sense now. Having the ability to adapt, learn, change and grow with a changing organization is as important as having a specialty skill.
KKH: What skills will be most important to HR professionals in the future?
Frist, the ability to understand strategy and financial economics, as well as link all of your workforce’s efforts to the accomplishment of the strategy and financial goals – those are critical skills. The next important facet is to possess and to train others in all of the human interaction skills. One of the greatest strengths of any level of an executive is the ability to get along with diverse and different people as well as diverse and differing opinions. They have to effectively lead diverse groups with varied experiences and opinions – ones that are different to one’s own experiences is critical.
There was a time when the right answer prevailed, and having the right answer was the key to success. Now, one needs to have the right answer and have the organization aligned to execute against the right answer, along with the followership and engagement of all employees. If you consider that a three-point formula – a leading executive can have the right answer, wrong execution and no followership, and the right answer will fail in that scenario.
KKH: What trends, challenges or issues do you see most affecting your profession?
The greatest challenge is understanding and staying current and ahead of the massive amount of change that is occurring in our societies and workplaces – whether that is political, cultural, business or market changes. Appreciating that change, managing through it, and supporting and bringing our employee population through that change is one of our greatest challenges. The world is more complex, and we need to be thoughtful and respectful of the changes occurring around us.
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